Clean Energy Transition LLP has significantly decreased its stake in **GE Vernova Inc.** (NYSE: GEV), selling 55,151 shares during the second quarter of 2023, which represents a **63.3%** reduction in their holdings. According to the most recent Form 13F filing with the **U.S. Securities and Exchange Commission**, the fund now owns 31,923 shares, valued at approximately **$16.9 million**. This reduction makes GE Vernova the 16th largest holding in Clean Energy Transition LLP’s investment portfolio, accounting for about **1.4%** of their total investments.
In addition to Clean Energy Transition LLP, several other institutional investors have adjusted their stakes in GE Vernova. **Vanguard Group Inc.** increased its holdings by **1.1%**, now owning **24,664,571 shares** valued at **$13.05 billion** following the acquisition of an additional **271,958 shares**. Similarly, **Geode Capital Management LLC** raised its position by **2.2%**, bringing its total to **6,108,484 shares** worth **$3.22 billion**.
**Goldman Sachs Group Inc.** also lifted its stake by **7.4%** in the first quarter, now holding **3,129,958 shares** valued at **$955.5 million** after purchasing an additional **214,483 shares**. Meanwhile, **UBS Asset Management** increased its stake by **21.4%**, owning **2,080,006 shares** worth **$635 million** after acquiring **367,150 shares**. **Wellington Management Group LLP** made a substantial move, increasing its stake by **50.9%**, bringing its total to **2,029,948 shares** valued at **$619.7 million**.
Insider Activity and Quarterly Performance
In related news, **Kenneth Scott Parks**, Chief Financial Officer of GE Vernova, sold **3,300 shares** on **August 26, 2023** at an average price of **$620**, resulting in a transaction valued at **$2.05 million**. Following this sale, Parks holds **7,590 shares** valued at approximately **$4.7 million**, marking a **30.3%** decrease in his position. This transaction was disclosed in a filing with the SEC.
GE Vernova released its quarterly earnings report on **October 22, 2023**, revealing an earnings per share (EPS) of **$1.64**, which fell short of the consensus estimate of **$1.72** by **$0.08**. The company reported revenue of **$9.97 billion**, surpassing expectations of **$9.15 billion**, reflecting an **11.8%** increase from the same period last year. Notably, the company had posted a loss of **$0.35 EPS** during the same quarter in the previous year. GE Vernova has forecasted an EPS of **6.59** for the current fiscal year.
Dividend Announcement and Analyst Ratings
On **November 17, 2023**, GE Vernova announced a quarterly dividend of **$0.25 per share**, which was paid to shareholders who were on record as of **October 20, 2023**. This dividend represents an annualized rate of **$1.00**, yielding **0.2%** based on current share prices. The company’s dividend payout ratio currently stands at **16.29%**.
Recent research reports from various analysts reflect a positive outlook for GE Vernova. **JPMorgan Chase & Co.** raised its price target for the stock from **$715** to **$740**, maintaining an “overweight” rating. **BMO Capital Markets** also increased its target from **$690** to **$710**, while **Barclays** lifted its target from **$706** to **$710**, both assigning an “overweight” rating. Conversely, **Rothschild & Co Redburn** reaffirmed a “sell” rating, setting a target price of **$475**.
Overall, analysts rate GE Vernova with a consensus of **four Strong Buy ratings**, **nineteen Buy ratings**, **eight Hold ratings**, and **two Sell ratings**. The stock currently holds an average rating of “Moderate Buy” with a consensus price target of **$607.81**, as reported by **MarketBeat.com**.
For those interested in the latest developments in GE Vernova, updated information on hedge fund activities and insider trades can be found through various financial platforms.
